Sunaulo Bal Bhabishya Life Insurance Plan

Sunaulo Bal Bhabishya ( Child Endowment) Life Insurance Plan

Salient Features :

1. Age at entry(Life Assured): 0 years (after minor's birth) to 17 years
2. Proposer's Maximum Age at Entry: 65 years
3. Insurance Term: 5 years to 25 years
4. Life Assured's Age at Maturity: 18 years to 25 years
5. Minor's Maximum Age at Maturity: 25 years (Life Assured)
6. Propoer's Maximum Age at Mautirty: 70 years
7. Sum Assured: Minimum Rs. 50,000 to maximum as per the income source of the proposer
8. Mode of Payment: Annually, Half-yearly and Quarterly

1. Commencement of risk:
   1. 2 years after commencement of the policy or from the policy anniversary immediately after the completion of 6 years of age, whichever is later)
   2. 1 year after the commencement date in case of minor Life Assured is aged between 9 years to 12 years.
   3. From the commencement date in case of minor Life Assured is aged above 12 years
2. Factors used for payment of insurance premium:

   Premium Payment Mode	Factor
   Annually	1.000
   Semi annully	1.020
   Quarterly	1.035

3. Factors used for payment of insurance premium:

   Premium Payment Mode	Factor
   Annually	1.000
   Semi annully	1.020
   Quarterly	1.035

4. Terms and Conditions of Payment:
   1. If the Life Assured(child) survives till maturity date; Lump sum payment of sum assured and vested bonus will be paid.
   2. If the Life Assured(child) dies before the commencement of the risk; the insurance premium will be refunded except the additional insurance premiums(if any) received by the Insurer.
   3. If the insured child dies within the insurance term after the commencement of the risk; Twenty- five percent of the Sum Assured or the paid insurance premium (excluding additional insurance premium), whichever is higher, will be paid and the policy will terminate immediately.
   4. If the proposer dies within the insurance term: the sum assured will be paid. The insurance premium for the remaining policy term will be waived. And until the age of the Assured child reaches 18 years, 1 percent of the sum assured will be provided against monthly income benefit.
5. In the event of simultaneous death of the insured child and the proposer within the insurance term;
   1. In case of death of the proposer, sum assured and accrued bonus will be paid.
   2. Twenty-five percent of the sum assured will be paid on the death of the insured child.
6. In case of death of insured child after the death of the proposer within the insurance term;
   • Twenty-five percent of the Sum Assured and the accrued bonus or premiums paid (excluding additional premiums), whichever is higher, will be paid and the policy will terminate immediately.
7. Additional Benefits:
   • The policy is eligible for loan after the payment of three annual premium payments with the completion of three years from the date of policy commencement.
8. Risks not covered by the insurance policy:
   • If the death of the insured is caused directly or indirectly due to any of the following reasons, the amount payable under the insurance policy is not as per the sum assured mentioned in the schedule and only the paid-up value(if any) of the insurance policy will be paid.
   1. When flying other than as a passenger on a regular route operated by an aviation service provided licensed in accordance with prevailing laws.
   2. In case of engaging in any act of war (whether war is declared or not) in violation of the law.
   3. In case of violation of civil or military law.
   4. Whether insane or not if the life assured or proposer commit suicide within two years from the commencement date or date of revival of lapsed policy or at the state of policy lapsed.

Apart from the above-mentioned risks, the insurance policy will not cause any hindrance to travel or work abroad.

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